Tennessee gas prices rise 5 cents, surpass year-ago level

Staff Report
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Mar 18, 2019 at 8:00 PM

NASHVILLE – Gas prices across the state and the nation are still on the rise thanks to declining stock and increasing demand.

Tennessee drivers are paying an average of $2.35 per gallon for regular unleaded, according to AAA. Monday's state average is 5 cents more than a week ago, 25 cents more than this time last month and just a fraction of a cent higher than this time last year.

Although oil prices drifted lower last week, the national average gas price still rose, AAA reported. The national average of $2.54 is 7 cents higher than last week, 22 cents higher than a month ago and about the same as last year.

“The steady increase of gasoline demand mixed with the gradual decrease of gasoline stocks, since February, attributed to gradually increasing gasoline prices across the country,” said Stephanie Milani, Tennessee public affairs director for AAA, in a press release. “Regionally, exports as well as planned and unplanned refinery maintenance is adding to the upward pressure on gas prices. As maintenance wraps up and refineries increase runs, stock levels should increase, which will hopefully stabilize gas prices over the coming weeks.”

Most expensive gas prices in the state

• Jackson ($2.40)

• Morristown ($2.38)

• Nashville ($2.38)

• Knoxville ($2.37)

Least expensive gas prices in the state

• Chattanooga ($2.26)

• Cleveland ($2.27)

• Clarksville-Hopkinsville ($2.30)

• Kingsport-Bristol ($2.30)

What about oil?

At the close of Friday’s formal trading session on the New York Mercantile Exchange, West Texas Intermediate crude dropped 9 cents to settle at $58.52, AAA reported.

Oil prices took a hit last week as the market responded to concerns about the global economy slowing this year, which could weaken global crude demand later this year.